Viswas Raghavan moves to head banking at Citi, while JPMorgan promotes insiders
- JPMorgan’s global investment banking chief, Viswas Raghavan, departs for Citigroup
- Raghavan will be head of banking and executive vice chair of Citi
- JPMorgan promotes insiders Filippo Gori and Doug Petno as co-heads of global banking
- Raghavan helped bring JPMorgan’s European investment bank to No. 1 position
- Raghavan not included in the new organization of the combined commercial and investment bank
- Citigroup’s CEO Jane Fraser praises Raghavan’s track record and ability to attract top talent
- Raghavan joining Citigroup over the summer with assistance from Peter Babej
- JPMorgan Chase names Sjoerd Leenart as chief executive of Asia Pacific
JPMorgan Chase & Co.’s global investment banking chief, Viswas Raghavan, is leaving the company to join Citigroup as head of banking and executive vice chair. This comes after JPMorgan’s CEO Jamie Dimon made internal promotions, potentially setting the stage for a successor. Raghavan, who previously led JPMorgan’s European investment bank, was not included in the new organization of the combined commercial and investment bank. Citigroup’s CEO Jane Fraser praised Raghavan’s track record and ability to attract top talent. Meanwhile, JPMorgan promoted insiders Filippo Gori and Doug Petno as co-heads of global banking. Sjoerd Leenart was also named as chief executive of Asia Pacific.
Factuality Level: 3
Factuality Justification: The article provides factual information about the departure of JPMorgan’s global investment banking chief Viswas Raghavan to Citigroup and the internal promotions within JPMorgan. However, the article contains unnecessary details about the backgrounds of various individuals and their potential successors, which are tangential to the main topic. The article also includes some repetitive information and quotes that do not significantly contribute to the main news story.
Noise Level: 2
Noise Justification: The article provides relevant information about the departure of JPMorgan Chase’s global investment banking chief Viswas Raghavan to Citigroup, including details about the internal promotions at JPMorgan and the restructuring at Citigroup. It stays on topic, supports its claims with examples, and offers insights into the banking industry’s succession planning and operations.
Financial Relevance: Yes
Financial Markets Impacted: JPMorgan Chase & Co., Citigroup
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Justification: The article pertains to financial topics as it discusses the departure of JPMorgan Chase’s global investment banking chief and his move to Citigroup. However, there is no mention of any extreme event or its impact.
Public Companies: JPMorgan Chase & Co. (JPM), Citigroup (C)
Key People: Viswas Raghavan (Former Global Investment Banking Chief at JPMorgan Chase & Co., Head of Banking and Executive Vice Chair at Citigroup), Jamie Dimon (Chief Executive of JPMorgan Chase & Co.), Jennifer Piepszak (Co-Chief Executive of Commercial and Investment Bank at JPMorgan Chase & Co.), Troy Rohrbaugh (Co-Chief Executive of Commercial and Investment Bank at JPMorgan Chase & Co.), Jane Fraser (Chief Executive of Citigroup), Marianne Lake (Sole Chief Executive of Consumer and Community Banking at JPMorgan Chase & Co.), Peter Babej (Chair and Interim Head of Banking at Citigroup), Filippo Gori (Co-Head of Global Banking at JPMorgan Chase & Co.), Doug Petno (Co-Head of Global Banking at JPMorgan Chase & Co.), Sjoerd Leenart (Chief Executive of Asia Pacific at JPMorgan Chase & Co.), Mary Edroes (Head of Asset and Wealth Management at JPMorgan Chase & Co.)
Reported publicly:
www.marketwatch.com 
